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will the white house let our economy go over the fiscal cliff if a deal on higher tax rates for the wealthy is not reached? we're checking it out. back in a moment. [ male announcer ] research suggests cell health plays a key role throughout our lives. one a day men's 50+ is a complete multivitamin designed for men's health concerns as we age. it has 7 antioxidants to support cell health. one a day men's 50+. it's easy to follow the progress you're making toward all your financial goals. a quick glance, and you can see if you're on track. when the conversation turns to knowing where you stand, turn to us. wells fargo advisors. >>> welcome back. this very public negotiation on the fiscal cliff still does not seem to be closing in on a deal. the white house out in campaign style events regularly, making multiple media appearances, kle including timothy geithner right here in 25 minutes. >> but would things be done faster if it was done privately? in his latest column, jeff goldfor a compares u.s. budget talks to merger proxy battles. jeff joins us to explain about that. plus, we have bob from
will the white house let our economy go over the fiscal cliff if a deal on higher tax rates for the wealthy is not reached? we're checking it out. back in a moment. [ male announcer ] research suggests cell health plays a key role throughout our lives. one a day men's 50+ is a complete multivitamin designed for men's health concerns as we age. it has 7 antioxidants to support cell health. one a day men's 50+. it's easy to follow the progress you're making toward all your financial goals. a...
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Nov 29, 2012
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he says because we're at the zero balance, interest rates were zero, the effect of the fiscal cliff is getting much worse than if the fed were not at zero. >> because they could do something. >> the only positive thing which dudley did not talk about but it is something that's on the radar is that, as the fiscal cliff fears rise, interest rates fall on the 10-year. so the effect the fed would have from easing is already in -- already happening as a market reaction. >> steve, thank you. >>> when jeff kilburg is not fired up about the irish he is fired up about what mr. dudley said today. why? >> absolutely. he came out with very dovish comments. he lass a permanent vote and he is quite the confidant of ben bernanke. so he flat-out gave a wink-wink, there's something big coming in less than two weeks. >> he's been a dove for a long time though. no change but just to hear it articulated gives you some sense of -- >> it does. this could be a one-two punch. if the fomc comes out with additional measures, subsequent week later, all of a sudden they have the fiscal cliff resolution, bam, we c
he says because we're at the zero balance, interest rates were zero, the effect of the fiscal cliff is getting much worse than if the fed were not at zero. >> because they could do something. >> the only positive thing which dudley did not talk about but it is something that's on the radar is that, as the fiscal cliff fears rise, interest rates fall on the 10-year. so the effect the fed would have from easing is already in -- already happening as a market reaction. >> steve,...
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Nov 29, 2012
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if not, don't adjust your entire investment philosophy just because of the fiscal cliff. >> craig, you're the patient value investor. are you standing aside, waiting for this to resolve itself? >> you know, we use the volatility, the fiscal cliff to buy great businesses that are on sale. you know, the fact remains that the stocks are extremely underowned like i've never seen. i saw the other day, in 2006 pensions and endowments had about 60% of their enveinvestme in equities. that's down to under 35% in most cases. you also had four years of the much yul fund li mutual fund liquidations. i don't think the market is at great risk here. stay with domestic companies. stay with companies that have real high barriers of entry that are kpacheap. if you get caught up in the day to day news flow, you can get whipped in and out. the fiscal cliff will be resolved, whether it's two weeks or a month and a half. the market will move around, but long term it looks good. >> the question s how will it be resolved? jeff cox, already we are seeing a movement on the part of investors to say, if i'm sitting
if not, don't adjust your entire investment philosophy just because of the fiscal cliff. >> craig, you're the patient value investor. are you standing aside, waiting for this to resolve itself? >> you know, we use the volatility, the fiscal cliff to buy great businesses that are on sale. you know, the fact remains that the stocks are extremely underowned like i've never seen. i saw the other day, in 2006 pensions and endowments had about 60% of their enveinvestme in equities. that's...
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Dec 5, 2012
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we are going over the fiscal cliff, that's my take. the administration is not budging. the only way they will even come to the table to negotiate is with the top earners paying higher tax rates, not just more in taxes, higher tax rates. but for some reason it must be higher rates, period. that's it. end of story. not because it is going to move the needle and fix our out of control debt, because it won't, not because it will put america on a fiscal sustainable path, because it won't. that is where the president has drawn his line in the sand. meanwhile, the president is now proposing a form of kicking the can down the road. raising taxes now with a promise to deal with entitlement reform and tax reform next year or beyond. that's the real worrisome proposal. here we are at the center of probably the most important fiscal conversation this country has had in decades. no one thinks we can continue on this spending path we are on without a day of reckoning coming sooner or later. why would we not seize the
we are going over the fiscal cliff, that's my take. the administration is not budging. the only way they will even come to the table to negotiate is with the top earners paying higher tax rates, not just more in taxes, higher tax rates. but for some reason it must be higher rates, period. that's it. end of story. not because it is going to move the needle and fix our out of control debt, because it won't, not because it will put america on a fiscal sustainable path, because it won't. that is...
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Dec 6, 2012
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and timothy geithner has told the cnbc the swhous ready to go over the fiscal cliff if tax rates on the nation's wealthiest don't rise. dag gri announces the rate decision later about plus apple shares still down in frankfurt. and its shares of the chinese market drop in the third quarter. >>> deutsche bank has hit back at allegations of financial impropriety brought by three former employees. according to reports, the ex-deutsche workers have launched a complaint with u.s. authorities alleging the bank failed to recognize $12 billion in unrealized losses at the height of the financial crisis. they claim improper accounting on the part of the deutsche bank enabled the lender to exaggerate its capital position. and citigroup plans to shed 11,000 jobs around the world which equals around 4% of its workforce. some experts say this is part of a strategy led by their new coe who took job in october, however others say it has the finger prints of chairman michael o'neal. citi shares reacted positively to the news, though the stockstill trading at around 70% of its tangible book value. you can
and timothy geithner has told the cnbc the swhous ready to go over the fiscal cliff if tax rates on the nation's wealthiest don't rise. dag gri announces the rate decision later about plus apple shares still down in frankfurt. and its shares of the chinese market drop in the third quarter. >>> deutsche bank has hit back at allegations of financial impropriety brought by three former employees. according to reports, the ex-deutsche workers have launched a complaint with u.s. authorities...
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Jul 18, 2012
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are democrats playing fiscal cliff chicken? washington state senator patty murray says if we can't raise tax rates on the upper brackets, democrats are prepared to let all the bush-obama tax cuts expire at the end of the year. most believe that will lead to a recession. if you listen to senator murray it sounds like democrats aren't prepared to compromise, but is the white house on board? treasury secretary geithner surprised me this morning in our interview. please take a listen to the exchange. when was the last time you met with speaker boehner to talk about possible compromises? >> i think the last time i spoke to him was several weeks ago when i went to talk to them about europe. i do have to talk to everybody relevant about the decisions. they said, if you listen carefully there is a lot of foundation laying under way in the senate and particular to explore what's going to work. >> i think that's interesting. let's turn to the senate. joining us, wisconsin republican senator ron johnson. he co-authored this op-ed today. w
are democrats playing fiscal cliff chicken? washington state senator patty murray says if we can't raise tax rates on the upper brackets, democrats are prepared to let all the bush-obama tax cuts expire at the end of the year. most believe that will lead to a recession. if you listen to senator murray it sounds like democrats aren't prepared to compromise, but is the white house on board? treasury secretary geithner surprised me this morning in our interview. please take a listen to the...
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Dec 6, 2012
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in a fiscal cliff free fall, tax rates on capital gains could rise to 24%. those dividends could increase to a whopping 44%. here now is former reagan economic adviser art laugher. how can you have capitalism without capital and why is there a war on capital, that includes cap gains, that includes dividends which will triple. it also includes the estate tax. why is there a war on capital? >> i have no idea, larry. i think it's just pure politics. but it's sort of lovely the words and looking them up. i understand that the french don't have a word for entrepreneur or laissez faire. [ laughter ] >> because they never use it. >> they never use it. economics is all about incentives. if you tax people who work, you pay people who don't work, don't be surprised if you find a lot of people not working. it's the rich issue here, which is just fascinating to me. if you tax rich people and give the money to poor people, you're going to get lots and lots of poor people and very few rich people. just look at what happened in britain two years ago when gordon brown raise
in a fiscal cliff free fall, tax rates on capital gains could rise to 24%. those dividends could increase to a whopping 44%. here now is former reagan economic adviser art laugher. how can you have capitalism without capital and why is there a war on capital, that includes cap gains, that includes dividends which will triple. it also includes the estate tax. why is there a war on capital? >> i have no idea, larry. i think it's just pure politics. but it's sort of lovely the words and...
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Dec 1, 2012
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in part because of worries about the fiscal cliff. have entrepreneurs sitting on the sidelines. who wants to start a business without knowing what the capital gains tax will be, tax code rate. plus the whole office supply industry has been shrinking for awhile, not just office max but office depot and staples as company shifted away from using lots of paper towards digital solutions like apple ipads. meanwhile there's not that much demand for the technological devices some of the companies sell which have become increasingly commodized. just witness hideous performance of best buy. despite all these big perceived big picture, office max has been rallying like crazy. stock has run up 122% for year. and it's fallen from 4.26 from the beginning of august to nearly $10. right now where the stock is less than a point off its 52-week high. what the heck, right? five months ago this stock had been left for dead. but now somehow office max has managed to find new life and become a monster good performer. just when you expect the company to be take it on the chin. what the heck is really
in part because of worries about the fiscal cliff. have entrepreneurs sitting on the sidelines. who wants to start a business without knowing what the capital gains tax will be, tax code rate. plus the whole office supply industry has been shrinking for awhile, not just office max but office depot and staples as company shifted away from using lots of paper towards digital solutions like apple ipads. meanwhile there's not that much demand for the technological devices some of the companies sell...
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>>> still to come we'll dig into the fiscal cliff with caterpillar's ceo. first as we head to break a drawing at sotheby's in london sold for nearly $48 million, nearly double the expected price, it was sold to an unsided buyer. we are gathered here today to celebrate the union of tim and laura. it's amazing how appreciative people are when you tell them they could save a lot of money on their car insurance by switching to geico...they may even make you their best man. may i have the rings please? ah, helzberg diamonds. nice choice, mate. ...and now in the presence of these guests we join this loving couple. oh dear... geico. 15 minutes could save you 15% or more on car insurance. >>> welcome back, everybody. we've been watching the futures, they are mixed, dow slightly higher but you can also see futures are lower for the s&p and the nasdaq. in our headlines apple and samsung are back in court in a high profile patent case. samsung is seeking to overturn an august verdict that found it guilty of infringing patents and ordered it to pay apple $1 billion. ap
>>> still to come we'll dig into the fiscal cliff with caterpillar's ceo. first as we head to break a drawing at sotheby's in london sold for nearly $48 million, nearly double the expected price, it was sold to an unsided buyer. we are gathered here today to celebrate the union of tim and laura. it's amazing how appreciative people are when you tell them they could save a lot of money on their car insurance by switching to geico...they may even make you their best man. may i have the...
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Nov 29, 2012
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. >> faced with the prospect of going over the fiscal cliff, which you just called serious business, or extending the lower tax rates and not the upper ones, which one would you choose? >> i'm going to do everything i can to avoid putting the american economy, the american people, through the fiasco of going over the fiscal cliff. >> which is worse, though, for the economy? >> what's that point of balance you just spoke about? could you put a debt limit increase in the overall package? >> as i told the president a couple weeks ago, there's a lot of things i've wanted in my life. but almost all of them had a price tag attached to them. and if we're going to talk about the debt limit in this, then we're probably -- there's going to be some price tag associated with it. >> last question. >> are you standing by your dollar for dollar -- >> i continue to believe that any increase in the debt limit has to be accompanied by spending reductions of that -- that meet or exceed it. >> thank you. >> with that, the happy talk azharry reid called it the other day is basically a thing of the past.
. >> faced with the prospect of going over the fiscal cliff, which you just called serious business, or extending the lower tax rates and not the upper ones, which one would you choose? >> i'm going to do everything i can to avoid putting the american economy, the american people, through the fiasco of going over the fiscal cliff. >> which is worse, though, for the economy? >> what's that point of balance you just spoke about? could you put a debt limit increase in the...
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Dec 5, 2012
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if republicans do not agree to that, is the administration prepared to go over the fiscal cliff? >> oh, absolutely. there's no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthiest. remember, it's only 2%. >> what the -- we just got a statement from senator hatch who called treasury secretary geithner's remarks one of the most stunning and irresponsible things -- statements he's heard in a very long time and i think there's going to be some gop reaction. i will say that the idea for the question i asked came out of comments that president obama had made earlier so i'm not sure how much a change in position this is as it is just explicitly stating the position of the administration. he also said that going over the -- a deal would not get done without a deal on the debt ceiling as well. finally the treasury secretary said the proposal from speaker boehner did represent some progress. >> i think we're making a little bit of progress. i mean, we're still some distance apart. they're clearly moving. they're trying to figure out how to move
if republicans do not agree to that, is the administration prepared to go over the fiscal cliff? >> oh, absolutely. there's no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthiest. remember, it's only 2%. >> what the -- we just got a statement from senator hatch who called treasury secretary geithner's remarks one of the most stunning and irresponsible things -- statements he's heard in a very long time and i think there's going to be...
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cliff, even if there's auto deal that retroactively drags us back over the top of the cliff. >> it's an interesting point. greg, thank you so much. such a mess. >>> it was better news at the box office lately. hollywood is on track to post an all-time box office record this year. film lovers have flocked the theaters to see christmas day performances of les miserables and "unchanged." >>> stick around. still to come on the show, the summer olympics and u.s. election made to 2012 a bumper user for advertisers. will that continue in 2013? we'll ask the ceo of publicis next. i feel so alone. but you're not alone. i knew you'd come. like i could stay away. you know i can't do this without you. you'll never have to. you're always there for me. shh! i'll get you a rental car. i could also use an umbrella. fall in love with progressive's claims service. [ male announcer ] this december, remember -- you can stay in and share something... or you can get out there and actually share something. ♪ the lexus december to remember sales event is on. this is the pursuit of perfection. >> european
cliff, even if there's auto deal that retroactively drags us back over the top of the cliff. >> it's an interesting point. greg, thank you so much. such a mess. >>> it was better news at the box office lately. hollywood is on track to post an all-time box office record this year. film lovers have flocked the theaters to see christmas day performances of les miserables and "unchanged." >>> stick around. still to come on the show, the summer olympics and u.s....
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Dec 19, 2012
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whether a fiscal cliff deal includes a rate hike the fact is a tax is a tax. and a huge amount of money will move from the private sector to the government. by the way, it isn't going to solve the deficit. let's go to doug holts president of the american action forum. i think too few people have exam inned the impact of this thing. one way or the other, that is a lot of money draining from the private sector to the government. i would have to agree with you, this is an economy. i would put p it into one perce and you hear people talk about the numbers. but underneath the numbers you have to worry about the quality of the policy. it is the worst way to raise revenue, and that is attribute to the fact that the politics are trumping the politics right now. >> in economic turns if you put a 39.6% tax rate on millionaires and above, if you do that, would that be the least ownerous thing you have heard so far? >> i think the goal should be, the least we've seen so far. but it didn't get a great reception on the other side of the i'll. it remains to be seen what we w
whether a fiscal cliff deal includes a rate hike the fact is a tax is a tax. and a huge amount of money will move from the private sector to the government. by the way, it isn't going to solve the deficit. let's go to doug holts president of the american action forum. i think too few people have exam inned the impact of this thing. one way or the other, that is a lot of money draining from the private sector to the government. i would have to agree with you, this is an economy. i would put p it...
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we acted to put off the fiscal cliff several months ago with a bill that without objection tend all of those bush tax rates into the future and would turn off the sequester by switching defense cuts over to domestic programs. democrats, of course have no intention of doing that. especially after president obama won the election. senate democratic leadership aide tells me that will remains a 50/50 chance we will get a mini deal temporary extension of tax cuts under $250,000 before the january 1 deadline when we would go over the cliff. will are no assurances of that. a white house official told me as president obama prepares to fly back to conduct and participate in the negotiations at the end, there has been no progress over the holiday weekend. michelle, i'm afraid that people who are looking for a deal and looking for a deal by december 31, all hope is not lost. it is not looking good at the moment. >> let's go back to this hitting the debt ceiling on monday. we learned of this because treasury secretary tim good night mother sent a letter to the honorable harry reid majority leader.
we acted to put off the fiscal cliff several months ago with a bill that without objection tend all of those bush tax rates into the future and would turn off the sequester by switching defense cuts over to domestic programs. democrats, of course have no intention of doing that. especially after president obama won the election. senate democratic leadership aide tells me that will remains a 50/50 chance we will get a mini deal temporary extension of tax cuts under $250,000 before the january 1...
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not in the health and maturity -- >> not the fiscal cliff? >> no, i'm just talking about interest rates. >> anything happening if we go through? you know it's coming up, monday is new year's eve. >> it will hurt the economy which will hurt banks. but banks have rallied, i think, mostly because of the fed. they have cash flow, they were underperforming assets. allocations were very low on financials. so we've come back. that's the first point. but i really don't see huge volume growth in the industry. if we have mid single digit revenue growth next year for all banks, that would be good. i think credit costs will keep coming down. that's what's been driving the increase in operating margins in the industry. just falling -- go when does that reverse itself? >> well, i don't think it does. we're at about 1.1% charge off the total loans. it was twice that a year ago. we have peaked up in the fours. so we're in much better shape. but remember the industry is only making 1% return on assets. most banks are 70% to 80% loan. so if you're still chargi
not in the health and maturity -- >> not the fiscal cliff? >> no, i'm just talking about interest rates. >> anything happening if we go through? you know it's coming up, monday is new year's eve. >> it will hurt the economy which will hurt banks. but banks have rallied, i think, mostly because of the fed. they have cash flow, they were underperforming assets. allocations were very low on financials. so we've come back. that's the first point. but i really don't see huge...
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Nov 29, 2012
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. >> we're ready to protect middle-class families from the fiscal cliff that they're facing by freezing the tax rates for the first $250,000 of all americans' income. letting the rates go up to the same level they were during the clinton administration. republicans know where we stand. we've said it. we've said it. we've said it so many times. the president said the same thing. it's been weeks, at least two weeks, since we met at the white house. we're still waiting for a serious offer from the republicans. really, now is the time for the republicans to move past this happy talk about revenues, ill-defined, of course, and put specifics on the table. the president has made his proposal. we need a proposal from them. i'm glad to see there are some reasonable republicans breaking from the pack. veteran representative cole and a new member, scott from south carolina, have said basically the same thing. and that is, they should bring to the floor of the house the bill that's passed over here. it would pass overwhelmingly, as scott said in the press today. our bill would pass in a matter of m
. >> we're ready to protect middle-class families from the fiscal cliff that they're facing by freezing the tax rates for the first $250,000 of all americans' income. letting the rates go up to the same level they were during the clinton administration. republicans know where we stand. we've said it. we've said it. we've said it so many times. the president said the same thing. it's been weeks, at least two weeks, since we met at the white house. we're still waiting for a serious offer...
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Jul 23, 2012
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the fiscal cliff represents $600 billion hit. $400 billion in higher taxes. $200 billion in spending cuts. 4% of gdp. follow your nose to realize you're going to have a recessionful if you use christina rumor's research you get 10% declines in gdp and a spike in unemployment. this is not playing russian roulette with live ammunition. it's playing with howitzers. >> why would you want america to go into a deep recession? >> that's not going to happen. the cbo says we'll have two quarters of 1.3 recession but by the end of the year will be at 2.3% growth. i believe washington is incapable of dealing with this. this isn't the perfect solution, but you will raise taxes which we need to do and cut spending, especially the defense department which hasn't been cut for years because of all the pork in it. we need to get rid of the deficit. one thing doug and i agree. we don't agree on how to get rid of it. but we need to get rid of the deficit. congress has done nothing for years. this is going to be what happens and i think it will. there is not a chance the republicans will aa low us to ra
the fiscal cliff represents $600 billion hit. $400 billion in higher taxes. $200 billion in spending cuts. 4% of gdp. follow your nose to realize you're going to have a recessionful if you use christina rumor's research you get 10% declines in gdp and a spike in unemployment. this is not playing russian roulette with live ammunition. it's playing with howitzers. >> why would you want america to go into a deep recession? >> that's not going to happen. the cbo says we'll have two...
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. >> fiscal cliff or what happened? we had such a good beginning of the year here. >> there's a lot of factors coming together. consumers are smart, they're quick to respond to changing conditions. our gdp rate of growth, as you know, declined. consumer confidence and sentiment has declined somewhat on the euro debt crisis is looming over us, and we're approaching an election. and there will be headlines that do not help consumer confidence. >> we joked here in the past, is the male consumer going to be a good growth period for you still right now in a slowing time program, or do y frame or cater to the woman more? >> good question, even in a sluggish economy, our growing our business, we grew our men's business by 100% last year and we're looking to grow more again this year. the women's business is still the significant majority of our sales. so we need to navigate through these waters. >> that's for sure, lou, good to see you, thank you for joining us today. and the coach stock down sharply a long with a lot of the o
. >> fiscal cliff or what happened? we had such a good beginning of the year here. >> there's a lot of factors coming together. consumers are smart, they're quick to respond to changing conditions. our gdp rate of growth, as you know, declined. consumer confidence and sentiment has declined somewhat on the euro debt crisis is looming over us, and we're approaching an election. and there will be headlines that do not help consumer confidence. >> we joked here in the past, is...
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he doesn't say maybe if we can't get a deal together, maybe we'd be okay with the fiscal cliff. he says that is the best deal for everyone, the best deal for progressives, just to do it. to go back to the clinton era rates. you get rid of three quarters of the deficit just on tax increases at that point. >> and he says you get defense cuts. >> you can't get defense cuts any other way. and he's not the only one. there's a lot of people on the left and there's quite a few people on the right. i'm glad you're optimistic and a lot of ceos and guys in your position -- if you run a company, you don't need consumers petrified and business people petrified. this is the last thing we need if you run a company. i understand you have a horse in the game. >> but you also have the double trigger. if you go over the cliff, we've got the debt ceiling fight right afterwards. it's not like that's six months down the line. that's in if first month, six weeks of the new year. >> the other thing, depending on where you stand, the idea that we just get rid of congressional approval of the debt ceili
he doesn't say maybe if we can't get a deal together, maybe we'd be okay with the fiscal cliff. he says that is the best deal for everyone, the best deal for progressives, just to do it. to go back to the clinton era rates. you get rid of three quarters of the deficit just on tax increases at that point. >> and he says you get defense cuts. >> you can't get defense cuts any other way. and he's not the only one. there's a lot of people on the left and there's quite a few people on...
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Nov 15, 2012
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bernie, lot of questions out there about tax rates, the fiscal cliff. give our viewers one reason why they should even bother to own stocks right now. >> well, brian, it's exciting. i'm here at impact 2013 which is the epicenter of registered investment advisors. we've got 4,000 attendees and the largest gathering of advisors that happens each year for the last 21 years. i will tell you, there is certainly concern in this group but there is optimism. there's confidence being built up about what they can do for their clients and planning. >> why? why are they confident? what's that confidence based on? >> as they think about the trajectory that the markets have been on and the uncertainty that's been there and politics aside, the president has been decided. and now one piece of uncertainty has been solved. now we need to get on and moving forward towards the tax code and the fiscal cliff obviously and begin solving some of those. i think we can see a way out of this. advisors for the last five years have been building relationship with their clients that
bernie, lot of questions out there about tax rates, the fiscal cliff. give our viewers one reason why they should even bother to own stocks right now. >> well, brian, it's exciting. i'm here at impact 2013 which is the epicenter of registered investment advisors. we've got 4,000 attendees and the largest gathering of advisors that happens each year for the last 21 years. i will tell you, there is certainly concern in this group but there is optimism. there's confidence being built up...
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Nov 29, 2012
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one of the things in the fiscal cliff is going back to the clinton era tax rates for everybody. now, i know there's sequestration and payroll tax. there's a lot of other things in there, but we did okay with those tax rates. why did we just assume there'd be a recession. >> let me mention a couple of things from the 1990s that are very different from today. first, there was a lot. there was an implicit deal that when clinton raised tax rates, the federal reserve would accommodate that with lower interest rates. you're not going to get that today. we're already basically at zero. there's very little for the feds to do. secondly if you go back to the 1990s, you may recall we had this thing called the internet bubble. that's a big driver. >> no, no. that's a republican's favorite answer. it wasn't clinton. it with us the bubble. >> we -- well, we did have a bubble. i mean that was a big thing. it drove in a lot of revenue. and if you recall clinton's last year in office, the bubble was starting to collapse. >> we had a pretty good housing market, too, i think. >> absolutely. >> and
one of the things in the fiscal cliff is going back to the clinton era tax rates for everybody. now, i know there's sequestration and payroll tax. there's a lot of other things in there, but we did okay with those tax rates. why did we just assume there'd be a recession. >> let me mention a couple of things from the 1990s that are very different from today. first, there was a lot. there was an implicit deal that when clinton raised tax rates, the federal reserve would accommodate that...
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Nov 30, 2012
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. >>> what are the long term effects for business travel if the economy falls off the fiscal cliff? the gbta predicts the reduced deficits and lower interest rates will lead to growth in the economy and an increase in business travel spending. >>> welcome back. now to the weather channel. reynolds wolf is standing by. what is happening around the country today? >> the story is all west. everything is taking place out west. rain, some strong winds, even some snow. some places snow getting up to around 2, 3 feet, but that is high elevation. but for the eastern seaboard, pretty quiet p. temperatures very mild this time of year. when you get into the center of the u.s., still fairly mild conditions. a bit cooler as you might imagine in spots up like towards the twin cities and even over towards chicago. but then out west, that's where the trouble really brews. it's that time of year that there's norm lay big area of high pressure that sets up off the west coast. that's gone and that allows all the pacific moisture to come through. high snow will be an issue. rain in seattle. so how is i
. >>> what are the long term effects for business travel if the economy falls off the fiscal cliff? the gbta predicts the reduced deficits and lower interest rates will lead to growth in the economy and an increase in business travel spending. >>> welcome back. now to the weather channel. reynolds wolf is standing by. what is happening around the country today? >> the story is all west. everything is taking place out west. rain, some strong winds, even some snow. some...
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Dec 17, 2012
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even as the fiscal cliff negotiations continue on. you'd think there'd be a rush to these safe havens. that's not happening. have we seen the low for the treasury yields for the foreseeable future? >> it depends which bend of the curve you're talking about. if you're talking about the 10 year point, we would agree with rick. looks like a range between 1.6% and 2%. and the language of keeping interest rates at zero. the long end is going to be volatile and more dangerous. it depends where on the curve you. >> so -- i'm sorry? >> it was interesting. this was brought up by one of our portfolio managers this morning. the fed's statement was hawkish last wednesday. we don't agree. what the fed tried to do is provide greater clarity to the markets. >> right. >> but that had been misinterpreted as it being more hawkish. we don't think that is the case. >> so all of this anticipation over the fiscal cliff last several months, i guess, going into 2013, has that done anything to your expectation in terms of the economic landscape next year? put
even as the fiscal cliff negotiations continue on. you'd think there'd be a rush to these safe havens. that's not happening. have we seen the low for the treasury yields for the foreseeable future? >> it depends which bend of the curve you're talking about. if you're talking about the 10 year point, we would agree with rick. looks like a range between 1.6% and 2%. and the language of keeping interest rates at zero. the long end is going to be volatile and more dangerous. it depends where...
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Jun 12, 2012
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and this fiscal cliff can be managed. highly unlikely the dividend tax will revert back to ordinary income. >>> and the scenario everyone is worried about unlikely to happen. even if the germans rebel and e uru owners persist, america is going to continue to be a safe haven for investors. that's great. a lot of us need to look more on the positive side of things. mandy. >> thank you very much. >>> let's get a market flash with brian shactman. >> i can't compare their numbers to themselves. we see their research all the time. guidance quite weak today. look at the stock, trading below the 200 moving average, 9495. about 10 bucks, 10.5%. back to you. >> thanks. >>> we told you how to rebuild your portfolio a moment ago, next, we tell you how to keep it away from europe's growing mess and why this this tornado has erowsive written all over it and you won't believe where it happened. >>> one company wants to dial into all your devices? could there be hidden danger plans out there? [ male announcer ] how do you trade? with sco
and this fiscal cliff can be managed. highly unlikely the dividend tax will revert back to ordinary income. >>> and the scenario everyone is worried about unlikely to happen. even if the germans rebel and e uru owners persist, america is going to continue to be a safe haven for investors. that's great. a lot of us need to look more on the positive side of things. mandy. >> thank you very much. >>> let's get a market flash with brian shactman. >> i can't compare...
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Jul 26, 2012
07/12
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cliff. if taxes rise, 80% of the income of an mlp is tax deferred and unaffected by tax rates and as a prudent investor should be taking a portion of the portfolio and investing in mastered limited partnerships. >> i would imagine a lot of clients tell you what's keeping them up at night. what keeps you up at night about the market? >> i wish there's greater transparency in the market. we have a crisis of confidence not getting around until we have concrete plans. >> okay. concrete plans is what we want, whether we get them or not is whole different question. thank you for joining us today, darren. >>> zynga is taking a beating following the big earnings miss after the bell last night. the stock down by about 39% after falling short of estimates on profits and revenues as well as lowering the guidance. our next guest was on "street signs" a month after zynga's ipo tauting the company's growth potential. >> biggest, the leader in the space and taking advantage of it and they're not just sitti
cliff. if taxes rise, 80% of the income of an mlp is tax deferred and unaffected by tax rates and as a prudent investor should be taking a portion of the portfolio and investing in mastered limited partnerships. >> i would imagine a lot of clients tell you what's keeping them up at night. what keeps you up at night about the market? >> i wish there's greater transparency in the market. we have a crisis of confidence not getting around until we have concrete plans. >> okay....
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Oct 3, 2012
10/12
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that hawill have a big impact wh rates and fiscal cliff issues. when it comes to the fed, all the moves were in anticipation. if you go back and look at the august meeting and how the s&p acted, the dow acted, the weakness in the dollar index, and maybe most of all the rally in mortgages, which could have been the most telegraphed easy trade for the big dogs in the fixed income fund market of all time. but today's adp might have been better, sequentially lower. it doesn't make a different to employment. i have yet to see any research that says qe anything does. >> all right. thank you, all. good to see you. thanks for your thoughts today. appreciate it. >> thank you. >> all right. we're in the final stretch. we have a mixed market for the most part. >> i don't care what you got planned for the afternoon. stick around. we are just getting started on this very busy wednesday edition of the "closing bell." watch. >>> coming up, downloading a dividend? what will apple do with its huge war chest and potentially devastating tax hikes? we'll drill to the
that hawill have a big impact wh rates and fiscal cliff issues. when it comes to the fed, all the moves were in anticipation. if you go back and look at the august meeting and how the s&p acted, the dow acted, the weakness in the dollar index, and maybe most of all the rally in mortgages, which could have been the most telegraphed easy trade for the big dogs in the fixed income fund market of all time. but today's adp might have been better, sequentially lower. it doesn't make a different...
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Dec 28, 2012
12/12
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so the potential growth rate, if we were not talking about fiscal cliff or any adjustment at all would probably be quite high, higher than we've seen over the last years. could be in the rake of 3%. plus, that confidence impact that these negotiations are likely to have, and that means that the u.s. economy is still going to grow at relatively mediocre rate of probably 2% next year. that's our view. >> timothy geithner here in the past couple of days talking about the debt ceiling and what could be done to try to move that forward in a stable manner if you would. there's no way around it, right? do you think that's taken kind of a bargaining chip away from the fiscal cliff negotiations? >> there seems to be some politics behind this announcement right now as we hit the ceiling. as you make the calculations, it seemed to me as if they were only going to hit the ceiling in february or march next year anyway. the fact that he comes out and says actually we're shutting the ceiling now and i have to make all these adjustments so we hit only in february seems to me that there is a bit of pol
so the potential growth rate, if we were not talking about fiscal cliff or any adjustment at all would probably be quite high, higher than we've seen over the last years. could be in the rake of 3%. plus, that confidence impact that these negotiations are likely to have, and that means that the u.s. economy is still going to grow at relatively mediocre rate of probably 2% next year. that's our view. >> timothy geithner here in the past couple of days talking about the debt ceiling and...
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Dec 6, 2012
12/12
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fiscal cliff deal. he joins us exclusively later on "the closing bell." stay tuned. [ male announcer ] this december, remember -- ♪ you can stay in and like something... ♪ [ car alarm deactivates ] ♪ ...or you can get out there with your family and actually like something. ♪ the lexus december to remember sales event is on, offering some of our best values of the year. this is the pursuit of perfection. you won't just find us online, you'll also find us in person, with dedicated support teams at over 500 branches nationwide. so when you call or visit, you can ask for a name you know. because personal service starts with a real person. [ rodger ] at scottrade, seven dollar trades are just the start. our support teams are nearby, ready to help. it's no wonder so many investors are saying... i'm with scottrade. >>> one of the most bizarre man hunts in recent memory is coming to an end in central america, we think. wealth editor robert frank has the latest details on the arrest of john mcafee. >> ye
fiscal cliff deal. he joins us exclusively later on "the closing bell." stay tuned. [ male announcer ] this december, remember -- ♪ you can stay in and like something... ♪ [ car alarm deactivates ] ♪ ...or you can get out there with your family and actually like something. ♪ the lexus december to remember sales event is on, offering some of our best values of the year. this is the pursuit of perfection. you won't just find us online, you'll also find us in person, with...
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Dec 3, 2012
12/12
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hits the fiscal cliff. both sides are blaming each other. timothy geithner pushing the gop to offer specific ideas and predicts they will eventually yield on raising tax rates on the wealthy. house speaker john boehner standing firm against higher taxes. sgr we' >> we've put a serious offer on the table by putting revenues up there. but the white house has responded with virtually nothing. >> why does it make sense for the country to force tax increases on all americans because of a small group of republicans won't extend tax rates for 2% of americans. there's no reason why that should happen. >> democratic strategy from bgr joining us. we'll always get a standoff at some point in these negotiations. is it a terminal standoff? when does somebody blink? >> it's not a matter of who will blink or not. i think that the republicans are trying to go tit for tat with the president. you have to realize that the president has the bully pulpit and the ability to command media. so the republicans feel the need to respond to every maneuver. i think fran
hits the fiscal cliff. both sides are blaming each other. timothy geithner pushing the gop to offer specific ideas and predicts they will eventually yield on raising tax rates on the wealthy. house speaker john boehner standing firm against higher taxes. sgr we' >> we've put a serious offer on the table by putting revenues up there. but the white house has responded with virtually nothing. >> why does it make sense for the country to force tax increases on all americans because of a...
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Nov 9, 2012
11/12
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i mean they said that if all -- if we go over the fiscal cliff, that we might see an unemployment rate spike to above 9%. do you think that that pushes it a little bit for both sides to really get together and get something done? >> well, look. unemployment over9% is definitely an eye opening figure. but i think the folks in washington know this is a bad deal. they know it is a worst case scenario if we go over the fiscal cliff. there are some in both parties who argue that it might be best to actually go over the fiscal cliff for a variety of tactical and ideological reasons but most folks in washington, sort of where the center of gravity is politically, they think the fiscal cliff is a bad idea and they don't need necessarily another report from cbo to underscore that for them. i think what we're seeing now is this opening from boehner and i think it is probably easier now for barack obama to give up on the raising rates idea as long as he's getting more revenue from the republicans. that's probably something that is easier for the president to do in this case than it is for boehner
i mean they said that if all -- if we go over the fiscal cliff, that we might see an unemployment rate spike to above 9%. do you think that that pushes it a little bit for both sides to really get together and get something done? >> well, look. unemployment over9% is definitely an eye opening figure. but i think the folks in washington know this is a bad deal. they know it is a worst case scenario if we go over the fiscal cliff. there are some in both parties who argue that it might be...
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Nov 27, 2012
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where is the area for compromise that would get us closer to a deal on the fiscal cliff then? >> the area of compromise has always been about revenue generation, about the 2% and the tax rates at that level. we can't just talk about deductions as the way to do that. we have to look at that and look at tax code for corporations. those areas have to be on the table. then i think people -- >> you're well aware that there are members of the republican party who have said that's a sacred area for them. they don't want to raise taxes on the wealthiest in this country. this they want to maintain the tax breaks from the bush era for everybody or nobody. here we are. you've identified where your sacred areas are. they've got theirs. that's what i'm asking. where's the middle ground in all of this? >> well, the middle ground is a fair share. by putting the benefit programs on the table, social security, medicare, medicaid, as being the source for the deficit and the only way to reduce that and the only way to balance this, i think is wrong when there is no significant revenue. not just
where is the area for compromise that would get us closer to a deal on the fiscal cliff then? >> the area of compromise has always been about revenue generation, about the 2% and the tax rates at that level. we can't just talk about deductions as the way to do that. we have to look at that and look at tax code for corporations. those areas have to be on the table. then i think people -- >> you're well aware that there are members of the republican party who have said that's a sacred...
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Dec 3, 2012
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with the fiscal cliff and tax rates rising, in november public companies borrowed reported amounts in the bond market in part to help finance shareholder payouts. so, how much in bonds was sold last month? find out next. [ male announcer ] this is joe woods' first day of work. and his new boss told him two things -- cook what you love, and save your money. joe doesn't know it yet, but he'll work his way up from busser to waiter to chef before opening a restaurant specializing in fish and game from the great northwest. he'll start investing early, he'll find some good people to help guide him, and he'll set money aside from his first day of work to his last, which isn't rocket science. it's just common sense. from td ameritrade. it's just common sense. if we want to improve our schools... ... what should we invest in? maybe new buildings? what about updated equipment? they can help, but recent research shows... ... nothing transforms schools like investing in advanced teacher education. let's build a strong foundation. let's invest in our teachers so they can inspire our students. let'
with the fiscal cliff and tax rates rising, in november public companies borrowed reported amounts in the bond market in part to help finance shareholder payouts. so, how much in bonds was sold last month? find out next. [ male announcer ] this is joe woods' first day of work. and his new boss told him two things -- cook what you love, and save your money. joe doesn't know it yet, but he'll work his way up from busser to waiter to chef before opening a restaurant specializing in fish and game...
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Dec 14, 2012
12/12
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. >> and in terms of this fiscal cliff, what kind of a hiccup might that represent? >> it depends on how long it continues, right? if you're sitting here in february of this year with retroactive legislation not being passed, people's houses have gone up and have gone up for a while, then you're looking at the significance of an economic confluence. if we do not go over we'll expect a near-term resolution at least, a week or two weeks after we go over, that's the hope certainly. >> right, and the markets will probably push their hands, by the way. >> you would imagine so. >> two weeks into january. >> sandy, you've got to be responsible for wealth planning long term. what are you telling your clients as we loom the near fiscal cliff deadline? >> it's really hard, maria, to predict with any certainty what will happen, and we're focused on the longer term. we deal with clients who have very long investment time horizons and we really like placing equities around the world. we lost plays in muney bonds now. we think there's great opportunities there so we're focusing on
. >> and in terms of this fiscal cliff, what kind of a hiccup might that represent? >> it depends on how long it continues, right? if you're sitting here in february of this year with retroactive legislation not being passed, people's houses have gone up and have gone up for a while, then you're looking at the significance of an economic confluence. if we do not go over we'll expect a near-term resolution at least, a week or two weeks after we go over, that's the hope certainly....
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Jun 1, 2012
06/12
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of course those two go up against the headwinds of fiscal cliff and europe. >> very interesting points. joe, let me turn to you. you had predicted earlier this month that the may numbers would come in around consensus at about 150,000 new payroll jobs. what did you miss? and right now i believe you're predicting that the second quarter growth rate for the u.s. economy's going to be something like 2.9%. some people might say, what are you smoking, man? >> i tell you what, tyler, they thought the same thing last year when growth was under 1% in the first half. and second half growth averaged 2.5%. so we have to be careful and really getting too nervous about things. a lot of weakness in the first quarter was in defense spending. i don't think that repeats. but the unemployment numbers were certainly weak. it was a surprise for many because the claim numbers suggest job growth should have been better. it was bad. however, i do think, tyler, there is one silver lining in the report. and that is the rising unemployment rate actually was a good thing in the sense that labor force participati
of course those two go up against the headwinds of fiscal cliff and europe. >> very interesting points. joe, let me turn to you. you had predicted earlier this month that the may numbers would come in around consensus at about 150,000 new payroll jobs. what did you miss? and right now i believe you're predicting that the second quarter growth rate for the u.s. economy's going to be something like 2.9%. some people might say, what are you smoking, man? >> i tell you what, tyler, they...
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Nov 15, 2012
11/12
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the market lower once again on more fears over fiscal cliff and the uncertainty over tax rates in 2013. in a few minutes, i'll be speaking to the men behind the campaign to fix the country's debt, alan simpson and erskine bous. take a look at how we're settling on wall street today. the market did end off the worst levels of the session. nonetheless, we continue to see a decline. the markett down about 5% since the election. we continue to see a deterioration here. the nasdaq gave up about ten points at 2836. the s&p flat on the night, down about 2.25 points. the market closing lower once again today, adding to the losses we have been seeing since the election. is a deal in washington what investors are waiting for to get back into the game? joining me now is ben pace from deutsch back private wealth management, scott collier and our own mandy drury. good to see everybody. ben pace, what is behind this selling, and when will it end? what's your take? >> i don't think it's really economic right now, maria. i think it's pretty political. every pronouncement we've heard over the last four
the market lower once again on more fears over fiscal cliff and the uncertainty over tax rates in 2013. in a few minutes, i'll be speaking to the men behind the campaign to fix the country's debt, alan simpson and erskine bous. take a look at how we're settling on wall street today. the market did end off the worst levels of the session. nonetheless, we continue to see a decline. the markett down about 5% since the election. we continue to see a deterioration here. the nasdaq gave up about ten...
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Nov 26, 2012
11/12
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i think tomorrow will be focused on the fiscal cliff, specifically as it pertains to rising tax rates. any visibility that we can get on policy or clarity on a solution or compromise will move the markets. so focused on limited partnerships. they will be less affected from an increase in tax rates. from an income perspective we have been looking closely at the fund that yields over 9%. the return of capital characteristics are less effected by rising tax rates. >> peter, i know you watch everything but pick one. what is important for you tomorrow? >> i am going to look at greece to see if they come to an agreement on a short-term fix. it was supposed to be agreement today but seems the imf is holding out for debt reduction from greece. hopefully they will get a deal done. >> look at all of these people do it in under 20 seconds. >> thank you so much. >> before we go let's give you one more look at the markets how they did today. had a selloff on the open this morning. sort of a pullback from friday's rally. the dow finished down 42 points at 12,967. apple was higher. >> citi initiated
i think tomorrow will be focused on the fiscal cliff, specifically as it pertains to rising tax rates. any visibility that we can get on policy or clarity on a solution or compromise will move the markets. so focused on limited partnerships. they will be less affected from an increase in tax rates. from an income perspective we have been looking closely at the fund that yields over 9%. the return of capital characteristics are less effected by rising tax rates. >> peter, i know you watch...
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Dec 18, 2012
12/12
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throughout the whole fiscal cliff debate, the administration has tried to rally ceos as a pressure point on the gop but also we're hearing what the executives are saying, is, look, it seems like you are so close. they are pushing back and urging geithner to make a deal, given that they seem to be on the revenue side and spending side, a lot closer than it seems in political terms, scott. >> steve, as we move ahead with the show, we're going to put ahead the major averages. to your point, the market is certainly counting on these guys coming even closer together and figuring it all out and getting a deal. >> i have to say one thing, it seems as if one of the things the administration has to do now with this new development of boehner having this plan b is they have to keep these discussions on track. remember, there was the boehner offer, the obama counteroffer, and then there was this other thing, this stead of another counteroffer from boehner, we may walk away and do a tax only deal. so i think that's part of the focus in these last couple hours here, is the administration trying to ke
throughout the whole fiscal cliff debate, the administration has tried to rally ceos as a pressure point on the gop but also we're hearing what the executives are saying, is, look, it seems like you are so close. they are pushing back and urging geithner to make a deal, given that they seem to be on the revenue side and spending side, a lot closer than it seems in political terms, scott. >> steve, as we move ahead with the show, we're going to put ahead the major averages. to your point,...
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Dec 21, 2012
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the problem, though, is that the economy sill is vulnerable to the fiscal cliff. tax rates are going to jump significantly on january 1st if nothing is done quickly and that would cause, we think if it lasted, a contraction in the first quarter. >> so contraction in the first quarter. are you speccing a recession? >> we are not. we still think some deal will be reached in the next couple of weeks. and that scenario we think is going to grow 1.5% to 2 the% in the next year. but the risk of no deal is obviously rising. we still think hal happen, though. rick santelli, what r saying there in chicago? the market was down, but the volume was up big. >> maria, like i think the first guest, i would rather impressed by the fact that we're down 119 and we're done much more in the wee hours of the morning after that vote failed and the i was as shock as all of guests were. next year, it's going to be the same. no matter how this fiscal cliff gets resolved, we would be job challenged. and i continue to think a bright spot is going to be energy. i think energy is an industry
the problem, though, is that the economy sill is vulnerable to the fiscal cliff. tax rates are going to jump significantly on january 1st if nothing is done quickly and that would cause, we think if it lasted, a contraction in the first quarter. >> so contraction in the first quarter. are you speccing a recession? >> we are not. we still think some deal will be reached in the next couple of weeks. and that scenario we think is going to grow 1.5% to 2 the% in the next year. but the...
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Nov 8, 2012
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certainly until we get information on the fiscal cliff. we're waiting on that. once again, we find ourselves in a holding period. what do you do? >> well, you know, i think that quality is just totally masked right now by volatility. as we get closer to january, it's a beautiful thing. what we will start seeing is convergence of some of the facts in terms of what the solutions will -- the proposed solutions will be, maria. right now i think everybody's just in a holding period. but that -- it takes a lot of courage to do this, but we're telling our clients to stay fully invested at this point because we think this is just a short-term volatility. i know it's very, very difficult emotionally to navigate right during this week. i think come january we will get a clearer picture. >> well, we better, right? otherwise we go over the fiscal cliff. jim key, how bad can it get? i mean, i know that right now we got dividend taxes at 15%. under the current law they will go up to 43% unless these guys do something about it. what's the worst case scenario? you don't think t
certainly until we get information on the fiscal cliff. we're waiting on that. once again, we find ourselves in a holding period. what do you do? >> well, you know, i think that quality is just totally masked right now by volatility. as we get closer to january, it's a beautiful thing. what we will start seeing is convergence of some of the facts in terms of what the solutions will -- the proposed solutions will be, maria. right now i think everybody's just in a holding period. but that...
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Nov 28, 2012
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cliff, taxes go up, dividend tax rates, personal tax rates, corporate tax rates go up, that that itself will cause economic weakness. what do you say to that? how are we supposed to balance the risks of doing things to avoid the fiscal cliff that may also hurt growth? >> one way or the other, there is a problem. if you kick the fiscal cliff down the road, then, you know, you're talking about the u.s. running deficits close to 4% to 5% over the next decade and that's cbo forecasts. if that occurs, you're talk about the debt getting more and more out of control. because the u.s. is the global reserve council, it's reliant on global reserve investment. >> just want to make sure that people have enough treasuries to trade. that's all it's about, charles. isn't that very generous? >> it is very generous. but left unaddressed, the fiscal problem is beginning to be a problem. but equally they don't want the full hit at this stage. so it is a matter of coming to some compromise, so you are going to have to see some kind of adjustment on the taxation side. that is what everyone is hopeful for. b
cliff, taxes go up, dividend tax rates, personal tax rates, corporate tax rates go up, that that itself will cause economic weakness. what do you say to that? how are we supposed to balance the risks of doing things to avoid the fiscal cliff that may also hurt growth? >> one way or the other, there is a problem. if you kick the fiscal cliff down the road, then, you know, you're talking about the u.s. running deficits close to 4% to 5% over the next decade and that's cbo forecasts. if that...
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Dec 10, 2012
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in your view would it be better to go over the fiscal cliff than to get the back to the clinton rates on the high end? >> i think the best thing we don't go over the fiscal cliff. >> you do? you'd rather do some kind of deal? >> yes, i'd rather -- that's why we proposed from right after the election. everything we've heard from the other side has been silent until yesterday -- >> like we said, no way, unless we go to 39.6 on the top 2%. would you vote no to that and go over the cliff? >> look, he's not -- i'm not going to negotiate right here on the tv. i'd rather sit and negotiate with them. but the one thing i will tell you, what they're asking for is revenue. republicans have put revenue on the table. the president's own words a year ago in 2011 said he could get $1.2 without raising any taxes. and think for a moment, if you close loopholes you get a fairer process. for those who don't have lobbyists, or high-priced attorneys or accountants, they get a very fair system. and no longer are we making an investment based upon what the irs code is, it's based upon what the economics sho
in your view would it be better to go over the fiscal cliff than to get the back to the clinton rates on the high end? >> i think the best thing we don't go over the fiscal cliff. >> you do? you'd rather do some kind of deal? >> yes, i'd rather -- that's why we proposed from right after the election. everything we've heard from the other side has been silent until yesterday -- >> like we said, no way, unless we go to 39.6 on the top 2%. would you vote no to that and go...
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Dec 6, 2012
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we have no idea where the capital gains are going to go, we're going to go over the fiscal cliff, what do you have to lose, the rates are going to go up. i don't think it makes any difference two tim geithner says. >> it is so widely held by so many who want to play the stock market, let's say, beyond just the capital gains, whether it's in taxable account organization not and it also has the psychological impact that this is the one that i'm going to get out of because i'm afraid of what's coming in general? >> this is the stock, yes, it's cheap, now once it goes down, we have a million reasons, well, it's a nokia phone, well, it's china. ipad miniis available. this is a stock that's so widely owned. it reminds me of sirius satellite. every doctor, every dentist owns apple. they don't know the price per share, they just know it is the proxy for the market. >> they just accelerated dividends. but i think we're talking now 150 companies in some fashion have accelerated or put forward a special dividend. you put forward a special market share, china is 76, with the market share at least.
we have no idea where the capital gains are going to go, we're going to go over the fiscal cliff, what do you have to lose, the rates are going to go up. i don't think it makes any difference two tim geithner says. >> it is so widely held by so many who want to play the stock market, let's say, beyond just the capital gains, whether it's in taxable account organization not and it also has the psychological impact that this is the one that i'm going to get out of because i'm afraid of...
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they believe that going over the fiscal cliff will lead to that kind of a scenario. they're willing to risk, i think, a temporary or perhaps permanent downturn in the economy in order to get their way on those top tax rates. >> the president has made it strongly known. he's not going to do anything unless there's a slight increase on the rich. if he wins another four years, his political career is going to be over after that. what pressure now becomes on congressional democrats? >> well, look, everybody's worried about a legacy at this point. legacy of a second democratic in this administration. going over the cliff is not an easy decision to make. if it happens that way, it will be because everybody will aglee th -- agree is that what is going to be negotiated next year is a tax cut. the calculation would be that markets would not be all that shaken because they know this is a temporary game that washington is playing. by the way, brian, there's a more sane scenario being discussed. >> please tell us. we need sanity. >> i'll try to make you feel better. so the sane
they believe that going over the fiscal cliff will lead to that kind of a scenario. they're willing to risk, i think, a temporary or perhaps permanent downturn in the economy in order to get their way on those top tax rates. >> the president has made it strongly known. he's not going to do anything unless there's a slight increase on the rich. if he wins another four years, his political career is going to be over after that. what pressure now becomes on congressional democrats? >>...
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Nov 8, 2012
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but you can say you are freaked out about the fiscal cliff, higher dividend or capital gains tax rates or maybe even greece. but are these really reasons not to own stocks? let's bring in craig hodges, co-portfolio manager of the hodges fund, as well as peter tuse. if capital gains rates go up in january, why wouldn't i buy stocks aggressivelily now and sell toward the end of the year? why sell now? >> there's a lot of cross currents. people are positioning. i think that's what you're seeing in the market, is people positioning for i guess the new world and it is likely that the -- that capital gains and dividend taxes are going to go up. we've talked at the hodges funds to several of our companies and a lot of them are actually having special meetings between now. a lot of them schedule them for right after the election to actually have a dividend strategy for the remainder of the year. if you're sitting on a lot of cash and you eventually want to return it to shareholders between now and december 31st is the time to do that. i think you'll see a lot of special dividends between now a
but you can say you are freaked out about the fiscal cliff, higher dividend or capital gains tax rates or maybe even greece. but are these really reasons not to own stocks? let's bring in craig hodges, co-portfolio manager of the hodges fund, as well as peter tuse. if capital gains rates go up in january, why wouldn't i buy stocks aggressivelily now and sell toward the end of the year? why sell now? >> there's a lot of cross currents. people are positioning. i think that's what you're...
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Nov 7, 2012
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must resolve the fiscal cliff to maintain that aaa credit rating. we'll talk to the man taking the call coming up, david riley and at&t raising its dividend this morning. news about capital spending. david faber has an exclusive interview with ceo randall stephenson live from new york city. futures look weak down 1/14. "squawk on the street" live from post nine is back in a minute. i was in the ambulance and i was told to call my next of kin. at 33 years old, i was having a heart attack. now i'm on a bayer aspirin regimen. [ male announcer ] be sure to talk to your doctor before you begin an aspirin regimen. i didn't know this could happen so young. take control, talk to your doctor. ♪ welcome to the world leader in derivatives. welcome to superderivatives. >>> president obama enjoying an election victory. phil lebeau joins us from mccormick place in chicago where the speech took place talking about the mood there today and the hard work begins again. >> reporter: it will be interesting to see over the next couple of weeks besides the fiscal cliff
must resolve the fiscal cliff to maintain that aaa credit rating. we'll talk to the man taking the call coming up, david riley and at&t raising its dividend this morning. news about capital spending. david faber has an exclusive interview with ceo randall stephenson live from new york city. futures look weak down 1/14. "squawk on the street" live from post nine is back in a minute. i was in the ambulance and i was told to call my next of kin. at 33 years old, i was having a heart...
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Dec 13, 2012
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boehner made comments about the continues impasse in trying to resolve the fiscal cliff. s&p down 23, down three quarters percent. and the nasdaq is down about half a percent. bob joins me on the floor of the nyse. the market is very undecided about what is happening in washington. what the feds know that perhaps we don't know. >> we are getting smacked around by these two separate events. the fiscal cliff as well as aftermath of what went on with the fed. i think the fed is still very important here. take a look the dow industrials. remember, we started moving down right after we saw mr. bernanke give his press conference. we talked about fiscal cliff having problems, not having the tools to deal with the fiscal cliff. the fed not having it, should we go over that. there we are dealing with the aftermath. remember something folks, september 14 is the high for the s&p this year. you know why that is important in september 13 is the fed meeting. they bought into the fed meeting and sold right after that, sue. and they are doing that again today. we are repeating what happe
boehner made comments about the continues impasse in trying to resolve the fiscal cliff. s&p down 23, down three quarters percent. and the nasdaq is down about half a percent. bob joins me on the floor of the nyse. the market is very undecided about what is happening in washington. what the feds know that perhaps we don't know. >> we are getting smacked around by these two separate events. the fiscal cliff as well as aftermath of what went on with the fed. i think the fed is still...
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Dec 17, 2012
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stalemate on the fiscal cliff may finally be breaking. house speaker boehner saying he may be open to higher tax rates on millionaires. the latest on the negotiations this hour. >>> apple downgraded on iphone 5 fears. but what fears? sales of the phones soaring in china over the weekend. 2 million of them sold in the first three days of its launch there. so are fears about apple overblown? president obama says he will use whatever power he has to prevent another massacre like the one in newtown, connecticut. what can be done, if politics is the art of the possible? where does the possible reside in america? we talk solutions today on "power lunch." my partner, sue herera, sue? >> let's look at where major averages sit right now. just a second ago, we were up 80 point on the dow. we are close to the highs of this session so far. nasdaq composite is up 29 on the trading session and s&p 45u7b is up 13. it is that optimism over the fiscal cliff which increased over the weekend after house speaker boehner edged ever closer to president obama's
stalemate on the fiscal cliff may finally be breaking. house speaker boehner saying he may be open to higher tax rates on millionaires. the latest on the negotiations this hour. >>> apple downgraded on iphone 5 fears. but what fears? sales of the phones soaring in china over the weekend. 2 million of them sold in the first three days of its launch there. so are fears about apple overblown? president obama says he will use whatever power he has to prevent another massacre like the one...
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cliff if we don't get higher rates was reckless talk. the staff resumed conversations yesterday in the phone call between speaker boehner and the president that you mentioned. so it's difficult to tell. i still believe as i've said ever since the election that the conditions are emerging for a potential deal, but you've got to get there when the speaker can rally his troops behind the sort of deal that the president will accept. the president believes he holds the high ground. he has all the tax cuts expiring at the end of the year and the question is do we have to go over that cliff before a deal can be struck or not. >> we asked you yesterday whether or not progress was taking place at least on the staff level. you said there were differing opinions. has the needle moved on that front? >> well, the movement of the needle was that yesterday the staff resumed conversations after a little hiatus over several days before that, so that is a progress in and of itself that they're talking, but there's no indication that those conversations ha
cliff if we don't get higher rates was reckless talk. the staff resumed conversations yesterday in the phone call between speaker boehner and the president that you mentioned. so it's difficult to tell. i still believe as i've said ever since the election that the conditions are emerging for a potential deal, but you've got to get there when the speaker can rally his troops behind the sort of deal that the president will accept. the president believes he holds the high ground. he has all the...